Examples of Waiver Default in a sentence
Each Credit Party acknowledges and agrees that in addition to any other rights and remedies that the Secured Parties may have under the Credit Documents, at law, in equity or otherwise, in the absence of this Waiver and after the occurrence of a Limited Waiver Default (as defined below), the Anticipated Event of Default would permit the Secured Parties to accelerate all or any portion of the Obligations in accordance with Section 11.12 of the Credit Agreement.
The description herein of the Waiver Default is based upon the information available to the Administrative Agent and the Lenders on the date hereof and shall not be deemed to exclude the existence of any other Events of Default.
The Administrative Agent and the Lenders hereby agree, subject to the terms and conditions of this Amendment, to waive the Waiver Default.
A Limited Waiver Default shall occur prior to the Waiver Finalization Date or othe Waiver Finalization Date shall not have occurred on or prior to the Waiver Termination Date.
As used herein, “Waiver Termination Event” shall mean the earlier to occur of (i) the Outside Date and (ii) the occurrence of any Waiver Default.